It is is a decade since I bought my house in Bourne End. Conveyancing lawyers have just been retained on the sale but I can't find the title documents. Is this a major issue?
Don’t worry too much. Firstly there is a possibility that the deeds will be kept by the lender or they may be in the possession of the lawyers who handled the purchase. Secondly the chances are that the property will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors procuring current official copies of the land registers. Most conveyancing in Bourne End relates to registered property but in the unlikely event that your home is unregistered it adds to the complexity but is resolvable.
What can a local search reveal concerning the house I am purchasing in Bourne End?
Bourne End conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search company for instance Onsearch The local search plays an important role in most Bourne End conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your new home. The search will reveal information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
I have recentlyfound out that Wolstenholmes have been shut down. They conducted my conveyancing in Bourne End for a purchase of a freehold house 18 months ago. How can I establish that my home is not still registered in the name of the former proprietor?
The quickest way to check if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bourne End conveyancing specialists.
I'm buying my first flat in Bourne End with a mortgage from Norwich and Peterborough Building Society. The sellers refused to budge the price so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not inform my conveyancer about the side-deal as it will affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one close by in Bourne End I like with amenity areas and station nearby, however it only has 51 years on the lease. I can't really find anything else in Bourne End suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan the shortness of the lease will be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
I am a negotiator for a busy estate agency in Bourne End where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received contradictory information from local Bourne End conveyancing firms. Can you shed some light as to whether the vendor of a flat can initiate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I inherited a 2 bed flat in Bourne End, conveyancing having been completed in 1998. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Bourne End with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease runs out on 21st October 2094
With just 69 years unexpired we estimate the premium for your lease extension to be between £9,500 and £11,000 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.